By Adam Woodward •
Updated: 23 Oct 2024 • 9:39 • 1 minute read
Marbella s historic centre has already overtaken Malaga s old town in the number of tourist rentals it has on offer.
As registered with the regional authorities, Marbella city has 13,532 properties let out as temporary rentals while Malaga city has just 12,099 despite being the larger city.
The Bank of Spain recently published a report that indicates that nearly 70% of rental properties in Marbella are for holiday use, meaning that only 3 out of 10 properties are for long-term or residential rental.
Within the historical old town of Marbella there are currently 916 of these short-term rentals, which comprise 6.7 percent of all homes, whether houses and flats in the old town. This is the point where many take this data and apply it as a reason to protest against the massive growth in tourism.
However, in the case of Marbella Old Town, not all are 100 percent for tourists. Unlike new buildings such as the iconic 30-storey Torres Martiricos in the centre of Malaga where almost half of the flats had been bought up specifically to rent out to tourists, the situation is mostly very different in the case of historic central zones.
With Spanish people owning a certain number of the homes as their own private second and holiday apartments, many just rent them out in between the times needed. Also, now that the holiday season has extended well beyond the traditional July and August, as indicated by figures announced by Marbella mayor, Ángeles Muñoz in September, holiday homeowners are able to take advantage of their own properties and make a little extra cash from them as well. Therefore the argument that held that holiday apartments are causing housing shortages can be entirely misleading.
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